Gold prices in India are currently nearing the Rs 79,000 mark in 24K of 10 grams. While 22K and 18K gold prices are above Rs 72,000 and Rs 59,000 mark per 10 grams. The start of the New Year 2025 has been bullish for gold prices with MCX bullion nearing the Rs 78,000 mark in the commodities market. However, volatility persists in the short term, with Donald Trump's takeover of the White House as a major development in January 2025.
Gold Prices In India:
Gold prices in India in 24K of 10 grams are currently at Rs 78,710. Further, the prices are at Rs 72,150 in 22K and at Rs 59,030 in 18k.
MCX gold prices ended at Rs 77,320 per 10 grams on January 3, marginally up after hitting an intraday high of Rs 77,947 per 10 grams. The bullion was for February 2025 expiry.
Gold prices witnessed strong double-digit growth of 28-30% globally and at MCX, yellow metal was up by 20% in 2024, outperforming major assets including Sensex and Nifty.
Brokerage Axis Securities predicts gold prices to hit a new all-time high in 2025, and its target price could be Rs 83,000 per 10 grams.
Gold Prices In India Outlook 2025:
In its New Year 2025 report, Axis Securities said, "As long as gold holds above $2,500, the outlook is bullish, with a potential retest of $2,790 and an upside toward $3,000. A break below $2,500 would shift sentiment, with support around $2,400."
For 2025 overall, the brokerage added, "Gold could range from $2,400 to $3,000 on Comex, with MCX prices between Rs 73,000 and Rs 83,000, factoring in rupee depreciation."
Here are key fundamentals and technical analyses by Axis Securities that could influence gold price to touch the Rs 83,000 per 10 grams mark in 2025. These are:
Gold Prices Fundamentals:
1. Strong 2024 Performance: Gold has experienced a 28-30% surge globally and a 20% gain on MCX, significantly rewarding bullion investors with solid returns amid market volatility.
2. Constructive 2025 Outlook: Despite potential headwinds from the Fed's cautious easing and Trump's policies, gold remains a preferred asset for portfolio diversification, offering stability in uncertain markets.
3. Central Bank Buying: Ongoing central bank purchases of gold, as part of reserve diversification strategies are expected to continue driving demand and support price levels throughout 2025.
4. Geopolitical Uncertainties: Heightened geopolitical tensions and global uncertainties will likely increase safe-haven demand, with gold serving as a protective asset during times of instability.
5. Late 2025 Rally Potential: A potential rally in the second half of 2025 could be fueled by central bank buying, geopolitical risks, and the ongoing demand for gold as a hedge against inflation and market volatility.
Gold Prices Technical Analysis:
1. Gold (COMEX) has surged over 25% YTD, reaching a record high of $2,790 in October 2024. However, it experienced a pullback in November following Donald Trump's victory in the U.S. presidential election.
2. It has been holding above an upward-sloping trendline since 2024, signalling a strong and sustained uptrend.
3. The yellow metal remains in a solid uptrend, trading above its 9-period EMA at $2,500, with RSI above 70, signalling continued strength.
Disclaimer: The write-up is just for information purposes, and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on article mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.
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